Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

The Center For Debt Management
Center4DebtManagement.com ... Always open 24 / 7

Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
the most trusted law firm in America with over 15 years of experience is Lexington Law Firm.

For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources



TITLE 11–BANKRUPTCY

CHAPTER 5–CREDITORS, THE DEBTOR, AND THE ESTATE

Sub Chapter III – The Estate

Sec. 556. Contractual right to liquidate
a commodities contract or forward contract

 The contractual right of a commodity broker or forward contract 
merchant to cause the liquidation of a commodity contract, as defined in 
section 761 of this title, or forward contract because of a condition of 
the kind specified in section 365(e)(1) of this title, and the right to 
a variation or maintenance margin payment received from a trustee with 
respect to open commodity contracts or forward contracts, shall not be 
stayed, avoided, or otherwise limited by operation of any provision of 
this title or by the order of a court in any proceeding under this 
title. As used in this section, the term ``contractual right'' includes 
a right set forth in a rule or bylaw of a clearing organization or 
contract market or in a resolution of the governing board thereof and a 
right, whether or not evidenced in writing, arising under common law, 
under law merchant or by reason of normal business practice.

(Added Pub. L. 97-222, Sec. 6(a), July 27, 1982, 96 Stat. 236; amended 
Pub. L. 101-311, title II, Sec. 205, June 25, 1990, 104 Stat. 270; Pub. 
L. 103-394, title V, Sec. 501(b)(7), Oct. 22, 1994, 108 Stat. 4143.)


                               Amendments

    1994--Pub. L. 103-394 substituted ``section 761 of this title'' for 
``section 761(4)''.
    1990--Pub. L. 101-311 inserted before period at end ``and a right, 
whether or not evidenced in writing, arising under common law, under law 
merchant or by reason of normal business practice''.


                    Effective Date of 1994 Amendment

    Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and not 
applicable with respect to cases commenced under this title before Oct. 
22, 1994, see section 702 of Pub. L. 103-394, set out as a note under 
section 101 of this title.



Back Index Next

Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
the most trusted law firm in America with over 15 years of experience is Lexington Law Firm.

For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources

Go to Index of Related Articles and Resources!

Click Below To Check Out More Financial Resources

Return to Top

The Center For Debt Management™

Helping Consumers Save Money and Reduce Debt Is Our Only Business!™

We invite you to explore the sectors listed below. We promise that you'll find exceptional values, offers and resources in which to reduce your living expenses and to enjoy life!


Debt Management and Financial Services! The Internet's oldest and most comprehensive debt management agency! Resources for debt management, consumer credit counseling, debt consolidation, debt reduction settlements, legal aid, financial aid, loans and financing, credit repair, credit reports, insurance quotes, income sources, tax assistance, and more.

Established in 1989 and serving the online community since 1992!


This site was created and designed by Daniel A. Gelinas
Disclaimer and Privacy Policy      © Copyright  2007 "The Center For Debt Management"      Contact Us
Return to Top

Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software